Mario Gabelli

Mario Gabelli

Last Update: 11-14-2016

Number of Stocks: 811
Number of New Stocks: 51

Total Value: $15,351 Mil
Q/Q Turnover: 3%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Mario Gabelli Watch

  • Desjardins Capital Markets Picks Goldcorp for 2017

    Goldcorp Inc. (NYSE:GG) appears at the top of the list of Desjardins Capital Markets for the large-cap stocks that the firm recommends buying for 2017. The firm says the company will be able to illustrate an attractive multiyear guidance outlook on both production and costs,” as reported by the Financial Post.


    At the moment, Goldcorp is not the best gold mining stock in the industry, especially when it is compared to its more direct peers, Barrick Gold Corp. (NYSE:ABX), in terms of gold output and AISC per ounce, and Newmont Mining Corp. (NYSE:NEM), in terms of gold output.

      


  • GAMCO's Best Stock Pick 2017: Wynn Resorts



  • GAMCO's Best Stock Pick 2017: Florida Community Bank


    GAMCO Investors likes the small community financial because of its:

      


  • Newmont May Book up to $1.2 Billion to Shut Down Peru Mine

    Newmont Mining Corp. (NYSE:NEM) says that it may book approximately $1 billion or even $1.2 billion noncash impairment charge in the last quarter due to a higher than initially assessed value of “the asset retirement obligation at the mine of between $400 million and $500 million in the fourth quarter” for the shutting down of Yanacocha, the Peruvian mine, as reported Wednesday by Reuters.com.


    The higher value of the liability associated with the retirement of Yanacocha mine is “due to higher estimated future water treatment, earthworks and demolition costs,” Newmont said as also reported by Reuters.com.

      


  • Barnes & Noble Education Reports Sales Slump

    Barnes & Noble Education Inc. (NYSE:BNED) reported its earnings for the second quarter of fiscal 2017 today. While the company reported an increase in sales, it lowered the outlook for comparable sales for the year.


    The company is one of the largest contract bookstore operators on university campuses across the U.S. and a leading provider of digital education services. In August of 2015, the company split from Barnes & Noble Inc. (NYSE:BKS) and began operations as an independent company.

      


  • Gold Reacts Negatively to Italian Constitutional Referendum

    Asian gold markets positively reacted to the outcome of the constitutional referendum in Italy, where "no" triumphed over "yes" with 19,419,507 votes or 59.11% of voters. The number of votes in favor of the constitutional reform is 13,432,208 or 40.89% of voters. The percentage of Italians who voted is 65.47%, or 33,243,845 voters, out of a total of 50,773,284 eligible voters.


    On Asian markets, gold prices jumped 0.9% to retrace later more closely to last Friday's prices when the precious metal was trading at $1,177 per ounce, showing an overall improvement of 0.4%.

      


  • Mario Gabelli’s Top 3 New Holdings

    GAMCO Investors’ Mario Gabelli (Trades, Portfolio) acquired 51 new stocks in the third quarter. His top three new holdings are Fleetmatics Group PLC (NYSE:FLTX), Joy Global Inc. (NYSE:JOY) and Whole Foods Market Inc. (NASDAQ:WFM).


    Gabelli founded GAMCO in 1976 as an institutional research firm in New York. He serves as chairman and CEO. As of Sept. 30, the firm managed $39.9 billion in assets. The firm has an investment team of 15 portfolio managers who employ an intense research-driven approach to find undervalued companies. Their three key objectives are: identify a company’s EPS, free cash flow and private wealth management, define the catalyst that will push the price higher and evaluate the management.

      


  • Profiting From Uncertainty: Mark Boyar’s Group Finding Mispriced Financials, Media Stocks Pt. I

    Jonathan Boyar, part of the Boyar Value Group, will speak at the 2017 GuruFocus Value Conference. Get registered for the event here.


     

      


  • Gabelli Funds Comments on Torex Gold

    Torex Gold (TSX:TGX) (2.5%) (TXG CN – $21.63 | $28.38 CAD – Toronto Stock Exchange) is a development company with a project in Guerrero, Mexico. The company recently completed construction of its Limon/Guajes project on time and on budget. Once at full commercial production, the company should produce over 300,000 ounces of gold per year at unit cash costs in the lower half of the cost curve. The company has a second deposit near its current operation which can be its second mine. In developing its second deposit, the company has the ability to double production to 600,000 ounces while funding development with free cash flow from its first mine.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on Tahoe Resources

    Tahoe Resources (NYSE:TAHO) (3.0%) (THO – $12.82 | $16.82 CAD – Toronto Stock Exchange) owns the Escobal mine in Guatemala, one of the largest primary silver mines in the world. Tahoe also owns two assets in Peru. One is an operating mine and one is a development project. The combined company will be cash flow generative, and be able to finance the build of its next project with free cash flow from its two producing assets and cash on its balance sheet. The company recently completed the acquisition of Ontario-based Lakeshore Gold. Tahoe aims to expand Lakeshore’s mineral inventory through an aggressive exploration program. If successful, the company will likely expand plant capacity on site and grow production. Tahoe pays a dividend, and we expect this will increase if the prices of gold and silver rise.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on Osisko Gold Royalties

    Osisko Gold Royalties (NYSE:OR) (0.7%) (OR CN – $10.95 | $14.36 CAD – Toronto Stock Exchange) is a Montreal based gold royalty company which owns royalties on the two largest gold mines in Quebec, namely the Malartic mine in the Abitibi region, and the Eleonore mine in the James Bay region of northern Quebec. Osisko has a cash balance and generates meaningful amounts of free cash flow through producing royalties. The company is deploying this cash in very early stage development deals whereby it is able to fund exploration and development of projects, primarily in Canada, in exchange for equity stakes in the development companies and the opportunity to finance mine development through acquiring future royalties on future mine development.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on Northern Star Resources

    Northern Star Resources (ASX:NST) (1.7%) (NST – $3.57 | $4.66 AUD – Australian Stock Exchange) is a Western Australia based mining company with three primary operating mines in Western Australia. The company acquired operating mines in the region from Barrick Gold and Newmont Mining (3.6%) during the downturn in the cycle when these two companies were selling assets to pay down over-levered balance sheets. The company has been successful in reducing costs at these operations and extending mine lives through exploration. Northern Star is a meaningful free cash flow generative company at the current Aussie dollar gold price, and pays a dividend to shareholders.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on MAG Silver

    MAG Silver (MAG) (1.6%) (MVG – $15.07 | $19.77 CAD – Toronto Stock Exchange) owns 44% of one of the highest quality silver deposits in the world. The Juanicipio project in Zacatecas, Mexico is adjacent to Fresnillo plc’s (7.1%), namesake silver mine. Having Fresnillo as the 56% majority partner and operator of the mine limits development risk for the asset, and should allow for the project to be financed with little trouble. Once operational, Juanicipio should be highly cash flow positive. A new discovery on the Juanicipio property has the potential to either extend the mine’s life or increase production at the project meaningfully.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on Klondex Mines

    Klondex Mines (KLDX) (1.6%) (KDX – $5.75 | $7.54 CAD – Toronto Stock Exchange) is a mining company with two mines in Nevada and a development project in Manitoba. The company’s Fire Creek mine in Nevada is a high grade, small tonnage deposit. The Midas mine is near Fire Creek, and both mines feed a single processing facility near the Midas site. Klondex recently agreed to acquire a third property in Nevada called Hollister. Hollister could be a third source of feed for the centralized Nevada processing facility. All of the mines in Klondex’s portfolio are relatively short-life, and will require meaningful exploration spending to extend their lives. If exploration efforts are successful, Klondex will be a low cost producer with meaningful free cash flow generation at current gold prices.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on Hochschild Mining

    Hochschild Mining (LSE:HOC) (2.5%) (HOC – $3.75 | £2.90 – London Stock Exchange), is a Peruvian based gold and silver miner. The company has one mine in Argentina and three mines in Peru. Hochschild are experts in mining high-grade underground vein systems. The company’s newest mine, Inmaculada in Peru, will be its biggest and most cash flow generative asset. As Inmaculada begins to produce over the coming months, the company will be able to use cash flow from the mine to pay down debt and explore around its sites. We expect excess cash to be distributed to shareholders in the form of a dividend.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on Detour Gold

    Detour Gold (TSX:DGC) (3.7%) (DGC CN – $21.75 | $28.54 CAD – Toronto Stock Exchange), is a single asset company based in Toronto, with its sole operating mine in northern Ontario. The Detour Lake mine is a large, bulk tonnage open pit operation which is currently the biggest gold mine in Canada. The mine’s cost base is largely fixed, with labor and electricity being large components, both are priced in Canadian dollars. The company is generating free cash flow, and will use a portion of this cash to pay down convertible debt which will come due in 2017. We expect the company to pay dividends to shareholders once the balance sheet has been sorted.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on Agnico-Eagle

    Agnico-Eagle (NYSE:AEM) (6.5%) (AEM CN – $54.08 | $70.95 CAD – Toronto Stock Exchange), is a mid-tier gold producer with operations in Canada, Mexico, and Finland. The company is the dominant operator in the Val d’Or region of Northern Quebec, and the only gold producer in the Canadian sub-Arctic region. The company is in the process of delineating a new discovery in the Arctic region which could serve to extend the life of its large Meadowbank mine. Agnico is also delineating a deposit in Mexico which could be its third mine in the country. The company has a strong balance sheet and low unit cash costs which should allow it to comfortably complete these new projects while continuing to return cash to shareholders in the form of a dividend.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Funds Comments on Acacia Mining

    Acacia Mining (LSE:ACA) (1.6% of net assets as of September 30, 2016) (ACA – $6.45 | £4.98 – London Stock Exchange) is a London listed gold mining company with three mines in Tanzania. The company was formerly called African Barrick, and Barrick is still a large shareholder of Acacia. Acacia is in the process of transforming its two largest assets, the Bulyanhulu and North Mara mines. Bulyanhulu is beginning to mine higher grade material, and operating costs have been reduced at the mine, leading to higher production at lower unit costs. At North Mara, the company is beginning to mine an underground portion of the orebody. Currently a dividend paying stock, the amount of the dividend paid should increase as the company executes operationally.


    From the Gabelli Gold Fund third-quarter 2016 shareholder letter.

      


  • Gabelli Gold Fund 3rd Quarter Shareholder Commentary

    To Our Shareholders,

      


  • Columbia Wanger's Largest Trades in 3rd Quarter

    Columbia funds are managed by Columbia Management Investment Advisers LLC, and Columbia Acorn funds are managed by Columbia Wanger (Trades, Portfolio) Asset Management LLC, a subsidiary of Columbia Management Investment Advisers, LLC. During the third quarter the guru’s largest trades were the following:


    It closed its stake in Cepheid (CPHD) with an impact of -0.93% on the portfolio.

      


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